Campbell’s reports Q3 adjusted EPS 73c, consensus 66c

Reports Q3 revenue $2.475B, consensus $2.43B. Mick Beekhuizen, Campbell’s (CPB) President and CEO said “We delivered solid third quarter results that exceeded our expectations partially due to favorable shipment timing. In Meals & Beverages, we are seeing improved consumption across all consumer income groups. Consumers are cooking at home at the highest levels since early 2020 and turning to our brands for value, quality, and convenience. Within Snacks, performance was mixed across the portfolio, and while we’re benefiting from some strong innovation launches, we are adjusting our plans to make sure we’re competitive across our full brand portfolio. Our overall performance reflects our strong execution and disciplined cost management in what remains a dynamic operating environment. We continue to evolve our organization and capabilities to better leverage our scale for growth and drive long-term value creation.”